Interview: Jeffrey Scott, Wurts & Associates, on the Right Way to Invest in Hedge Funds

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No one makes money by just following the market, says Scott, who is building an outsourced CIO business for Wurts & Associates.

By Frances Denmark The investors who call upon Jeffrey Scott
are looking for a portfolio manager with a strong radar for
sources of alpha in a lower-return world. Scott, 47, has spent
the past year building an outsourced chief investment officer
division for the consulting firm Wurts & Associates in
Seattle, where he heads up the $1.3 billion discretionary asset
management unit. The sum is much smaller than the $40 billion
he previously managed for Alaska’s sovereign
wealth fund, the Alaska Permanent Fund in Juneau, and before
that, the $56 billion he managed for Microsoft
Corp.’s absolute return portfolio. But, says
Scott, the job of helping investors balance risk and return
through carefully selected alternative assets is more critical
than ever. ...